[QUOTE username=ADVAW8S userid=8452459 postid=1333095959]Since you ask, I tend to follow Austrian since I believe in the business and credit cycle. You will notice that I mention demand destruction.[/Quote]
Nice to hear that. And BTW: this is nothing against you. Sometimes I'm just a grumpy old man. ;-)
[QUOTE username=ADVAW8S userid=8452459 postid=1333095959]
My understanding majority of the German population is not a big fan of the ECB since you are the largest stakeholder and have been asked to bail out other countries. [/quote]
This majority would be there, if they would know about it. In fact, most of them do not even know, what the 'ECB' (or in German EZB) actually is. It's a drama. As long as you give them Hamburgers And Television, they won't simply wake up.
They all complain that houses and rents are now unaffordable, but think at the same time that Europe is great.
They simply have no idea how all this is connected: The ECB is rescuing the southern countries with low interest rates (which apply to ALL EU countries!) because they (the southern countries) simply cannot keep up with the performance of the northern countries. The low interest rates lead to currency devaluation because you can no longer generate returns with such interest rates. So the money is invested in real estate, which of course becomes more and more expensive according to the laws of supply and demand, leading to high purchase prices and, as a result, high rents.
It is simply the result of the non-functioning idea of ââa common currency both in the poorest countries at the lowest economic level and at the same time in the super-strong industrial nations. The only recipe for saving the situation was and still is: "Whatever it takes": print money to the bitter end. They didn't produce more than that.
Finally, I spend my time making money on the investment side of the equation.
Though not having a university education in economy and finance, I have almost 40 years of training on the job: I worked many years as a freelancer and software engineer at the Deutsche Bank IBS department, which is at Deutsche Bank exactly what you are working for: Investment Banking Systems. I was in the headquarter at Eschborn. My job (as part of a 50 engineers team) was to calculate the daily trading results which finally yielded the fund and share prices in the newspapers.
Anyone who has ever done a job like this will never again believe the publications and printed matter about share prices, fund developments and stock market values. Not because the software sucks. But because the business and the respective rules we had to implement are so dirty. And that eventually changed my view of the economy and the big business behind the scenes that actually drives everything.
